India’s Gulf Oil Acquires Houghton | Chemical & Engineering News
Volume 90 Issue 46 | p. 16 | Concentrates
Issue Date: November 12, 2012

India’s Gulf Oil Acquires Houghton

Department: Business
Keywords: metalworking fluids, lubricants, India

Gulf Oil, an Indian lubricants manufacturer, has agreed to acquire the specialty chemical maker Houghton International for $1.0 billion. Based in Valley Forge, Pa., and owned by the private equity firm AEA Investors, Houghton had sales of $858 million for the 12 months ending in September. The company considers itself the number-one supplier of metalworking fluids in North America and Europe and the number-two supplier in Asia. Gulf Oil, part of India’s Hinduja Group, says it will operate Houghton as a separate company while drawing on Houghton’s base of industrial customers as potential buyers of lubricants. Gulf also sees synergies in manufacturing, sourcing, and distribution.

 
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